McDonald's upped by Lehman, but stock still at 8-yr low

Analyst Mitchell Speiser at Lehman Bros. upgraded the beaten down shares of McDonald's
MCD, -0.46%
to "equal weight" from "underweight," saying that while "there's no turnaround in sight," management changes at the company and rival Burger King could bring and end to pricing wars. In addition, McDonald's deep resources - operating cash flow of $3 billion -- and valuation should limit the stock's underperformance. The stock is sliding $1.68, or 9.7 percent, to $15.70. It hit a low of $15.58 earlier in the session, a level not seen since January 1995.

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